Hungary: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Hungary

The Hungarian carbon dioxide market declined dramatically to $X in 2022, dropping by -54.8% against the previous year. Overall, consumption, however, recorded a resilient increase. As a result, consumption reached the peak level of $X, and then contracted sharply in the following year.

Carbon Dioxide Production in Hungary

In value terms, carbon dioxide production dropped dramatically to $X in 2022 estimated in export price. In general, production, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 170%. As a result, production attained the peak level of $X, and then dropped sharply in the following year.

Carbon Dioxide Exports

Exports from Hungary

Carbon dioxide exports from Hungary skyrocketed to X tons in 2022, growing by 16% against the previous year. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 35% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, carbon dioxide exports expanded rapidly to $X in 2022. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 47%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Austria (X tons), Slovakia (X tons) and Croatia (X tons) were the main destinations of carbon dioxide exports from Hungary, together comprising 53% of total exports. Italy, Slovenia, the Czech Republic, Switzerland, Ukraine, Romania and Germany lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +30.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carbon dioxide exported from Hungary were Austria ($X), Germany ($X) and Slovakia ($X), together comprising 38% of total exports. Slovenia, Italy, Croatia, the Czech Republic, Switzerland, Ukraine and Romania lagged somewhat behind, together comprising a further 26%.

Slovenia, with a CAGR of +31.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, declining by -6.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2017 an increase of 23%. The export price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Hungary

For the fourth year in a row, Hungary recorded growth in overseas purchases of carbon dioxide, which increased by 42% to X tons in 2022. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 236% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, carbon dioxide imports rose significantly to $X in 2022. Over the period under review, imports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 91%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Austria (X tons), Germany (X tons) and the Czech Republic (X tons) were the main suppliers of carbon dioxide imports to Hungary, with a combined 94% share of total imports. Romania and Serbia lagged somewhat behind, together comprising a further 5.4%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +119.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of carbon dioxide to Hungary, comprising 62% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 22% share of total imports. It was followed by Austria, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +43.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+28.1% per year) and Austria (+29.8% per year).

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per ton, waning by -19.9% against the previous year. Over the period under review, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 39% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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